Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Bamberg County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $77,954 | $224,357 | $242,182 |
| Price Trend (Annual %) | 2.4% | 9.2% | 8.2% |
| Median Gross Rent | $793 | $1,126 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bamberg County is about 65% lower than in South Carolina. Rent is about 30% lower than the South Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Bamberg County, up about 2.4% and 3.4% a year respectively. Rent is changing faster.
Median rent in Bamberg County rose about 30.7% between 2015 and 2023, from $606 to $793. Over the same span, rent in South Carolina rose about 42.6%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Bamberg County.
Buying the median-priced home in Bamberg County costs roughly 8.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Bamberg County. The price-to-rent ratio in South Carolina is about 16.6.
| Metric | Bamberg County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $77,954 | $224,357 | $242,182 |
| Median Household Income | $42,397 | $66,957 | $78,145 |
| Price-to-Income Ratio | 1.8 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bamberg County rose about 0.7%, while median household income rose about 37.4% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bamberg County | South Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.7% | 61.6% | 58.2% |
| Rental Rate | 17.9% | 24.6% | 31.3% |
| Vacancy Rate | 30.4% | 13.8% | 10.6% |
| Median Tenure (years) | 20.0 | 15.0 | 15.0 |
| Median Year Moved In | 2006 | 2011 | 2011 |
Bamberg County has a homeownership rate of 51.7%, lower than the South Carolina average of 61.6%. Its housing vacancy rate is 30.4%, compared with 13.8% in South Carolina.
Housing Stock
| Metric | Bamberg County | South Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.65 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1978 | 1989 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Bamberg County was built around 1978. On average, 2.6 people live in a home with about 5.8 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bamberg County, South Carolina.
What is the median home price in Bamberg County, South Carolina?
The median home price in Bamberg County, South Carolina is $77,954, lower than the South Carolina average of $224,357.
What is the average home price in Bamberg County, South Carolina?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Bamberg County, South Carolina?
The median gross rent in Bamberg County, South Carolina is $793 per month, lower than the South Carolina average of $1,126.
What was the median gross rent in Bamberg County in 2020?
In 2020, the median gross rent in Bamberg County, South Carolina was $663 per month.
What is the price-to-rent ratio in Bamberg County, South Carolina?
The price-to-rent ratio in Bamberg County, South Carolina is about 8.2, meaning it would take roughly 8.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Bamberg County.
Are home prices or rent rising faster in Bamberg County, South Carolina?
Both home prices and rent are rising in Bamberg County, up about 2.4% and 3.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Bamberg County, South Carolina?
51.7% of households in Bamberg County, South Carolina own their home, lower than the South Carolina average of 61.6%.
What is the vacancy rate in Bamberg County, South Carolina?
The housing vacancy rate in Bamberg County, South Carolina is 30.4%, higher than the South Carolina average of 13.8%.